$5 Billion in Quarterly Options Expiry, MicroStrategy Continues Bidding
Sep 25, 2023
Market Update Equities and crypto markets are drifting lower amid continued pressure from rising yields. The 10-year Treasury is higher by 8 bps, topping 4.5%, corresponding with a rise in DXY, which tends to move inversely to crypto prices. Markets have continued to move lower after interpreting the Fed as higher for longer last week. The S&P is on track for its second losing month in a row and worst monthly performance since December (-4%). $BTC is down 4.2% in the last week, retracing to $26.1k today after last week’s rally to $27.4k. $ETH is trading at $1.58k while the $ETHBTC pair has